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Well joining me now Mike -- president founder of the Holland balanced fund great to have you with us and to be here.
You know we're watching this market -- it seems like day after -- we're talking about a -- now some late.
Firming in this market what's going on now well.
The valuations who have had such low levels or stocks worldwide.
Prices of so called risk free assets -- treasury bonds of earth if it's such high levels.
Now when we get good news or bad news you don't get the same reactions we've had before two because yes such extremes priced it.
People are so nervous skeptical cynical about anything that's going on right now.
That the prices are now reflecting that so when you do get bad news if you're not getting big down would move in the stock market when you do get.
You know some some decent news like he had housing did -- get things moving -- It it appears to many that there is a bottom forming here at least in the house are confident about the stock market.
-- what what is your read.
I think both are possible and probably likely and I think the reason for that is once again.
We hit levels of -- since 2008.
Where no one -- is unaware of the houses have been had a good investments since 2000.
No one is unaware that stocks have been -- lousy investment for the last ten years it -- the most people are going to sell those things they sold.
And you have a very very very low ownership of stocks and also people interest in housing up until this point I think prices are there.
And are looking at all of the of the external right now that the face investors this market.
The European Union summit do you expecting -- to come up -- is that does something to to our cal law.
Conventional wisdom once again totally skeptical totally apathetic and to -- best.
The results out of this thing could be -- some comment about the banking union which they consider later that would be a positive surprise because nobody expects anything good.
More important next week the European Central Bank meets.
When they meet next week if they did anything positive read that.
They said something about lowering rates and doing more content -- do so.
That would actually be surprised the markets that would once again be he probably that would be a surprise in the upside -- former -- comments such as she thinks.
But they've done really quite enough and hello everybody starts self fulfilling their promises for the the money that they've received all of those bailouts.
Do they shall hold steadfastly to that viewers this up.
Posturing in advance of -- European Union summit.
You think she might be actually.
Act like a politician artwork but.
Which she is in their -- he does have to posture.
And I think it's a great question because she in fact is probably going to be doing a little more accommodating -- -- hard come answered me.
You know that they wouldn't she she had this coming in her lifetime to never -- and instead it's never.
But you're you're gonna happen if -- -- out of her life I think I'm perforated effect that pray that it the up.
I'm in -- where it goes into the Treasury Secretary Timothy Geithner who -- forgot his name was.
We haven't heard from.
We're in the midst of what everybody including.
The -- -- himself has said.
Is a major global crisis and he is.
They were visible -- -- what what it's going -- I think we have in Washington right now only Ben Bernanke to look toward.
And that's scary because they've just about shut -- whole.
Ammunition did that they have he says there's some of the things they can do you and he had Richard Fisher yesterday telling them fox noise -- Viewers that he thinks it.
We were just about does Iraq it's a -- and now these other people have to do something.
That which again is the potential good news going out over the next six to twelve months that we will getting major change in the people who leading -- we may get some leadership.
And if we do no one expects that.
It's certainly not in anyone's pricing.
And just give us your best.
Assess what likely will be the impact if -- Eric Holder is cited for contempt of congress.
And Obama carriers reward constitution.
I believe the stock market will go.
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